Southeastern Career Institute Tickets 42,566 SF for Campus

Northpointe Centre at 12005 Ford Rd. was one of seven office buildings on the school's site list that could accommodate the parking ratio of 10 spaces per 1,000 sf. Northpointe, owned by ECOM Real Estate of Mexico City, scored the win by agreeing to pave abutting acreage to add parking spaces at a cost of roughly $500,000, Barbara Bennett, a leasing vice president with Dallas-based Trammell Crow Co., tells GlobeSt.com. As for the final rate, she says, "We had to be extremely aggressive. But we were able to maintain a flat rate with a bump at the end of five years." Northpointe Centre's quoted rent is $16.50 per sf, full service.

Southeastern, a Kaplan entity leasing the space as Denver Acquisition Corp., took all of the first and second floors and part of the fifth in the 161,000-sf, eight-story Northpointe Centre, now bearing a 57% occupancy. The school will relocate from a two-story building at 15440 Harvest Hill Rd.

Bennett says the new deal "helps us to recapture some of the vacancy" lost earlier ths year. Some 60,000 feet were lost when eFunds Inc. closed its doors and outsourced the work to India, and Advantage Sales & Marketing withdrew from the building. She adds that talks have been ongoing since December 2003.

The land, now being paved, was intended to hold a twin when Northpointe was built in 1985. But, the idea was shelved when the real estate market crashed in the late 1980s. Bennett says the building owner now believes the best move is "to pave all of it," giving the leasing team the advantage of courting tenants with covered and surface parking along with existing perks like an on-site deli and fitness center. The lot will be done in three months, according to Bennett. Brant Bernet, TCC's corporate advisory services' principal in Dallas, represented Denver Acquisition Corp.